Why Google's Eric Schmidt says the 'Internet will disappear'

The end of the Internet is drawing near—or at least the Internet as we know it.

That's according to someone who knows a lot about the Internet. While speaking at the World Economic Forum in Davos, Switzerland, on Thursday, Google's executive chairman, Eric Schmidt, said the current Internet will seem to vanish as it becomes a part of everyday objects and services.

"There will be so many IP addresses, so many devices, sensors, things that you are wearing, things that you are interacting with that you won't even sense it," Schmidt said. "It will be part of your presence all the time."

Google is positioning itself to become a major provider of the Internet's next iteration that Schmidt mentioned—on earth and in space.

The search giant made headlines this week with a $1 billion investment in Elon Musk's SpaceX, according to tech blog The Information. The funds could help connect hard-to-reach areas to the Web with satellite Internet, the report said.

Google's also getting deeper into the wireless sector. It plans to sell mobile phone plans directly to consumers as early as this year, according to reports.

The company plans to work with wireless carriersSprintandT-Mobile by piggybacking on top of their existing networks. Reports say Google will pay the companies to use space on the networks and then resell it to its own customers.